Marketing crypto projects is one of the most challenging tasks of every developer or project founder. However, in some cases, the choice of marketing may be completely counterproductive. One such marketing stunt was the Matt Damon crypto.com advertisement.
The advert video released in late 2021 met severe social media backlash. After his video posting, social media users went in hard on Matt. Some mentioned that Matt is comparing himself to the bright minds of Science but is merely a con artist. Some investors considered the videos as a crypto scam.
The question that remains is, why did the video get so much hate? How can crypto projects choose the right influencers for marketing? This guide looks into why Matt Damon’s video is indeed an embarrassing cash grab.
Matt Damon’s Viral Crypto Ad
Matt Damon’s video got a lot of criticism on social media networks. The minute-long crypto ad was about investing using Crypto.com. However, the video goes through some of the big moments in crypto history, showing how bravery led to big achievements.
It shows one of the Wright brothers in a plane. Later, you can see some astronauts taking brave acts of going to space. The video goes on to show some computer-generated images of outer space.
At the same time, Matt Damon encourages people to be brave and go into crypto. Crypto.com is a famous crypto exchange that sponsored the promotional video. The whole idea is investing in Crypto.com. The video ends with Matt Damon saying, Fortune favors the brave.
Generally, Damon refers to investing in crypto as one of the most authentic acts of bravery. People termed this promotional campaign as a scam and an embarrassing cash grab. So, why did people criticize the video? Here are the reasons:
Celebrities Involvement in Online Promotions
Of course, using celebrities in promotions is among the most popular marketing methods. The use of celebrities can attract the masses to the project.
In the crypto space, there are lots of celebrities involved in marketing. The celebrities involved in marketing crypto include Kim Kardashian, Tom Brady, and Busta Rhymes. So, it’s common for stars to take part in crypto marketing.
But, the primary intent of celebrities in those promotions is to make an income. Celebs are less concerned about whether crypto adds value and more concerned with getting a paycheck. That is the case with Matt Damon’s advertisement. He did it for money and not because of his love for crypto.
Tricking Customers using FOMO
Another reason why this entire video and promotion seems like just a cash grab is its message. Matt Damon is tricking investors into thinking that not investing in crypto will cost them. He is playing with investors FOMO to trick them into investing in crypto.
Influencer and Viral Crypto Marketing
Influencers have large fan bases thus can convince large crowds and increase web visits. Of course, Crypto.com Matt Damon because of the social media influence.
In the case of Matt Damon, the project chose an influencer who does not have any real crypto investments. Matt Damon was involved in this project but is not involved in crypto. Thus, he cannot convince people to invest if he is not interested in the project or crypto himself.
Viral marketing involves spreading information about crypto by sending it viral. It could also involve the creation of Ads and using campaigns to send them completely viral. In the case of Matt Damon, it’s a combination of influencer(Matt Damon) and viral marketing.
When using either influencer or viral marketing, crypto projects should consider the following;
Choose The Right Influencer
The choice of crypto influencers is a vital aspect of marketing. Crypto projects should look for an influencer who is genuinely interested in crypto. Identify the specific social media celebrities who are vocal on crypto.
A crypto promotional video will make more sense if the participants are real crypto users. The moment they involve themselves in the project, investors can trust them more.
Crypto Promotional Videos Should be Educational
Another aspect lacking in the Matt Damon promotional video is educational content. While the video was unique, it does not state what crypto is and its benefits. Crypto is a relatively new concept. Hence education should be an essential part of marketing.
When creating a crypto promotional video, it’s important to consider the new investors. Make sure that your video educates them on crypto. The more people understand what crypto is, the better the adoption.
This guide has been exploring the idea of crypto marketing, especially focusing on Matt Damon’s crypto viral Ad. The video received a lot of social media criticism and is indeed a cash grab.
Of course, using influencers in marketing remains a highly effective promotion technique. But, how can you make sure that your promotions are not a cash grab? By using marketing professionals.
Cryptovirally is a network designed to help in all your crypto promotional works. It combines SEO, social media, viral marketing, community management, and other highly effective marketing styles. On top of that, Crypto Virally offers highly affordable services.